People's Bank Provides $5.45M Acquisition Loan For 416 South 15th Street Industrial Property In Millville

An industrial property located at 416 South 15th Street in Millville has been successfully acquired. The asset encompasses 66,530 square feet and involves a total loan amount of $5,445,000, supplemented by a line of credit totaling $3,000,000. The acquisition financing offered to the borrower achieves a notable financing rate of 90%.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $5,445,000
• Line of Credit: $3,000,000
• Loan Type: Acquisition
• Lender: People's Bank
• Brokers: Eli Serebrowski & Meir Schlusselberg - Meridian Capital Group
• Market: Millville
• Square Footage: 66,530

Meridian Capital Group represented the borrower in this transaction, showcasing their capacity to deliver tailored financing solutions for complex dealings. Eli Serebrowski and Meir Schlusselberg are the key brokers involved in facilitating this loan arrangement.